With the help of credit card consolidation, you can restructure your debt repayment plan. Through this, you can consolidate your multiple credit card bills into a single payment every month. Thus, you need to manage only one payment instead of handling several creditors.
However, the amount you need to pay every month will depend on the following:
- Current interest rate on your debts
- Your total outstanding balance
- The amount of your monthly income
- Your creditors